Principal Securities Inc. Has $804,000 Stake in Principal Financial Group, Inc. (NYSE:PFG)

Principal Securities Inc. boosted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 254.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,384 shares of the company's stock after acquiring an additional 7,451 shares during the quarter. Principal Securities Inc.'s holdings in Principal Financial Group were worth $804,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Stratos Wealth Partners LTD. boosted its position in Principal Financial Group by 3.9% during the 1st quarter. Stratos Wealth Partners LTD. now owns 3,826 shares of the company's stock worth $323,000 after acquiring an additional 144 shares during the period. Argent Trust Co lifted its holdings in shares of Principal Financial Group by 0.6% during the 4th quarter. Argent Trust Co now owns 29,345 shares of the company's stock valued at $2,272,000 after buying an additional 161 shares during the last quarter. WFA Asset Management Corp lifted its holdings in shares of Principal Financial Group by 32.3% during the 1st quarter. WFA Asset Management Corp now owns 684 shares of the company's stock valued at $59,000 after buying an additional 167 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of Principal Financial Group by 11.0% during the 1st quarter. Mather Group LLC. now owns 1,803 shares of the company's stock valued at $152,000 after buying an additional 178 shares during the last quarter. Finally, Erste Asset Management GmbH lifted its holdings in shares of Principal Financial Group by 4.8% during the 4th quarter. Erste Asset Management GmbH now owns 4,400 shares of the company's stock valued at $342,000 after buying an additional 200 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their price target on Principal Financial Group from $87.00 to $90.00 and gave the company a "market perform" rating in a report on Wednesday. Morgan Stanley lifted their price target on Principal Financial Group from $67.00 to $71.00 and gave the company an "underweight" rating in a report on Monday, May 19th. Wells Fargo & Company lifted their price target on Principal Financial Group from $69.00 to $73.00 and gave the company an "underweight" rating in a report on Thursday. Piper Sandler raised their price objective on Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Finally, JPMorgan Chase & Co. raised their price objective on Principal Financial Group from $92.00 to $101.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Principal Financial Group currently has an average rating of "Hold" and an average price target of $83.75.

Principal Financial Group Stock Performance

NYSE PFG traded down $1.23 during trading on Friday, hitting $80.37. The company's stock had a trading volume of 822,223 shares, compared to its average volume of 1,321,887. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average price of $78.48 and a 200 day moving average price of $79.75. The firm has a market cap of $18.02 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 0.76 and a beta of 0.99. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.98.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same period in the prior year, the company earned $1.65 earnings per share. Equities research analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 2nd were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Monday, June 2nd. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.78%. Principal Financial Group's payout ratio is currently 65.10%.

About Principal Financial Group

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.